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Ask Lane Your Own Question
Category: Finance
Satisfied Customers: 12675
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I am renting a space restaurant, and i am being billed

Customer Question

i am renting a space for a restaurant, and i am being billed by the landlord the water/sewage bill. Is there a way that i can deduct the bill from the business taxes?
Submitted: 2 years ago.
Category: Finance
Expert:  Lane replied 2 years ago.
Yes... absolutely.
Your lease, all utilities, and any other costs if running the business are legitimate business expenses.
(This comes under IRS Section 162 - Ordinary and necessary expenses)
But yes, this would come under the deductions section on your 1120-S if you're an S-Corp, or the expenses section (part II) of the schedule C for an LLC.
Let me know if you have questions...
Expert:  Lane replied 2 years ago.
… just checking back in to see how things are going.
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